Q. Types of business activities?

An accounting education is perfect for providing this versatile background. Additionally to providing a good foundation for entrepreneurship in any business an accounting degree offers other ways of building your own business. For instance a large percentage of public accountants work as sole proprietors-managing and building their own professional practice. This is able to be a very rewarding career and working closely with individuals and small businesses. One benefit of this career is that you are able to establish your practice in virtually any location ranging from large cities to rural settings. At last, a lot of accountants who have gained specialized expertise and experience in a particular field start their own practice as consultants. Expertise such like this which perhaps in a field outside of traditional accounting practice can generate billing rates well in the excess of USD 100 an hour.

The overture to this text provided a background for your study of accounting. At present you are ready to learn about the forms of business organizations and the types of business activities they perform. This section presents the financial statements used by businesses. These financial statements explain the results of decisions made by management.